JD.com put $44 million into Tiki.vn to stem Alibaba's Lazada

JD.com planted US$ 44 million into Tiki.vn to stem Alibaba's Lazada. Technology giants based in Beijing put money into an e-commerce platform headquartered in Ho Chi Minh City to compete with Lazada as their big competitor. Tiki.vn will use the new funds to optimize operations and add growth.

Vietnam Tiki.vn e-commerce portal has collected US$44 million from Chinese Internet giant JD.com as one of the largest transactions in the technological ecosystem of Vietnam so far. Tiki will use the new funds raised to build human resources, delivery process optimization, and TikiNow logistics services.

Tinuku JD.com put $44 million into Tiki.vn to stem Alibaba's Lazada

Tiki was founded by Son Tran Ngoc Thai in 2010 to sell e-books, toys, digital devices, lifestyle and beauty products with a total of over 300,000 product types. Last year, Tiki and FWD Life Insurance collaborated to sell accident insurance on the e-commerce platform.

Alibaba in Southeast Asia which has made some significant investments in the past two years. Alibaba's Lazada.vn has an e-commerce market share of 36 percent in Vietrnam. Tiki must also compete Shopee and Zendo.vn. Last month, JD.com injected US$500 million into Thailand to build two e-commerce and fintech projects.